The upcoming presidential election has inspired the Federal Reserve to hold off on raising rates for at least another month. This comes after a two-day session where the Fed stated “the Committee judges that the case for an increase in the federal funds rate has continued to strengthen but decided, for the time being, to wait for some further evidence of continued progress toward its objectives.”

The Fed also stated the economy is expanding at a moderate pace, but that inflation rates were still below the targeted 2 percent range. Many in our industry are confident, however, that a rate hike will occur in December. This news has caused 30-year mortgage rates to hit a 19-week high. These rates increased seven basis points (0.07 percent) over last week, rising to an average of 3.54 percent nationwide, according to Freddie Mac.

Though news of this increase may worry consumers, it shouldn’t. As well all know, securing a 30-year mortgage in the 3 percent range is still a very attractive rate – one that hasn’t historically been available to most homeowners. On top of this, Freddie Mac estimates 30-year mortgage rates will remain within the 3 (albeit high) percent range through 2017, making this a great time to buy a home.

We all know this is a tough time of year not to get distracted. Between memories of Halloween, the World Series, Thanksgiving and Christmas, there are diversions as far as the eye can see. Though it may not be easy, the holiday season challenges you to strike a healthy balance between celebration and dedication. We’ve all been following the rate hike closely, and movement seems to be on the horizon.

Current and prospective borrowers are likely to have many questions between now and the end of 2016. Be sure to stay on top of the action. You want to be the No. 1 resource and a trusted well of knowledge for everyone who knocks at your door. I’ll do my best to keep you motivated as well. Until then, have a wonderful Thursday, and thank you for being a valuable part of the Finance of America family!